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MEDICAL DEVICE SHOW
There is less than one month until the Medical Design & Manufacturing show in Minneapolis. To date, eight South Dakota communities are participating in this cooperative effort.

FIREARM FORUM
The second South Dakota Firearm Research and Technology Forum is Oct. 20 in Rapid City. Read More

EXPANSIONS
Congratulations to Watertown-based OEM Worldwide, LLC, for its upcoming $11 million expansion and 150 new jobs! Additionally, Legacy Electronics has completed its move from California to Canton.

 

 

SD Works

Costello heaed shot

For many new and expanding small businesses, acquiring sufficient working capital during the first few critical years can be tough. And, unfortunately, many loans available to small businesses don’t meet that need. But a new loan program administered through the Governor’s Office of Economic Development will do just that.

The South Dakota WORKS loan program, which was launched Oct. 1, will assist healthy businesses in acquiring working capital, startup costs, and payroll and inventory needs.

“This program was designed to meet a distinct need we were seeing in South Dakota,” said GOED Commissioner Pat Costello. “We plan to partner with local lenders, and, in turn, and help the companies in our state succeed.”

The loans are structured 80 percent by private lenders and 20 percent by the GOED. After the application is received by the GOED, it is reviewed by a loan review committee, which meets monthly.

For more information, contact Jacob Wagner at jacob.wagner@state.sd.us, or visit the GOED online at www.sdreadytowork.com/finance.

Jerry Prostrollo Retires

  BED Board
  Jerry Prostrollo, center, stands with his fellow members of the Board of Economic (BED). The board oversees the states Revolving Economic Development & Initiative (REDI) Fund loan program.

After serving as chairman on the Board of Economic Development for the past 16 years, Jerry Prostrollo has decided to step down as chairman, but will remain on the board as an active member..

Prostrollo conducted his last board meeting as chairman and was honored in September for 40 years of combined service to various state boards including the Railroad Authority and Banking Commission in addition to the Board of Economic Development. Read More

Recent Rankings

More money: Bucking the national trend, personal income is up for the middle class in South Dakota. Read More

Drive time: According to Census Bureau, South Dakota's time to commute to work is the second-lowest in the nation at 16.8 minutes. Read More

Lending a helping hand: South Dakota's volunteerism rates are the 5th highest in the nation, says the Corporation for National and Community Service. Read More


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This is a publication of the Governor's Office of Economic Development. Commissioner-Pat Costello; Deputy Commissioner-Cody Byrum; Marketing and Public Relations Director-Mary Lehecka Nelson; Editor and Designer-Jennifer Lambley. © Copyright 2011